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Ethereum Price Watch – ETH/USD Soars Above $880

Ethereum Price Watch

February 9, 2018 – Ethereum Price Watch

Key Highlights:

  • ETH price soared above the $880 barrier on Friday
  • A double-top pattern has formed, peaking at $883.46
  • A support level is held around $865, and a reversal could occur for another upward trend

ETH Breaks Above $880, Reversal Forthcoming

On Friday, Ethereum broke through its previously established resistance level and soared above $880 on two occasions. As shown in the ETH price chart below, a double-top pattern has formed with two peaks, and a support level is now held at around $865.

Source: Tradingview

A bullish signal has been sent from the most recent candlestick pattern, and we could see a reversal above the $868 level, continuing along the current bullish trend line toward the $900 mark. The MACD indicator also had a crossover within the last hour, confirming the bullish signal.

Looking at the Technical Indicators:

  • MACD — bullish signal as the MACD line cross over the signal line
  • Major Support Level — $865
  • Major Resistance — $900

Featured Image: twitter

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